Question: answer this problem Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first

answer this problem

answer this problem Suppose a certain type of small data processing firm

Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probability density function that characterizes the proportion Y that make a profit is given by f(y) ky'(1 - y). OSys1, 10. elsewhere. (a) What is the value of k that renders the above a valid density function? (b) Find the probability that at most 50% of the firms make a profit in the first year. (c) Find the probability that at least 80% of the firms make a profit in the first year

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